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Fintechs build rapid financial relationships with younger consumers, Jim Marous notes

Fintechs build rapid financial relationships with younger consumers, Jim Marous notes
Fintechs win young consumer loyalty

Jim Marous, publisher at The Financial Brand, states that fintechs are successfully winning younger consumers not due to superior interest rates, but by eliminating friction in the user experience.

He references insights from Megan Pannier of Fiserv, who discusses how non-bank providers manage to establish financial relationships much faster than traditional banks.

Marous has previously examined why bank innovation projects often stall, noting Melissa Stevens’ view that agile methods can improve results in bank innovation efforts. He has also addressed how banks tend to postpone high-impact marketing when dealing with incomplete customer data, but can still deliver targeted campaigns, as detailed in his analysis of marketing challenges. These insights provide context to his recent observations on how fintechs attract younger users.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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